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ESSAY ASSIGNMENT HELP

QUESTION

Tutor Instructions

#1-Major Career Exploration

For Assignment #1-Major Career Exploration there are two tasks. First the tutor must fill
out the chart below in a separate word file. In the “current condition” section the tutor must
write 1 paragraph in the first person as if you were the student. This paragraph should
describe with adequate detail, that you are very unsure about what you want to do with
your life in terms of a career but you are attending Syracuse University to learn about
different fields. You must also mention that your goal for this exploration project is to
emulate your grandfather and be in real estate development. In the “Options/strategies”
section you must identify at least 6 significant strategies or options that you need to pursue
in order to help you in your exploration of becoming a real estate developer. Clearly state
what you hope to learn. In the “Plan” section you must list your plan or schedule that clearly
identifies when you will use each strategy. THE POINT OF THIS PROPOSAL IS TO CREATE A
PLAN FOR THE STUDENT TO HELP THEM DETERMINE A CAREER.

After the exploration proposal is filled out the tutor needs to “conduct the exploration.”
Since the tutor is completing this instead of the student the tutor will have to pretend to
conduct it and create documentation that shows that the student tried to follow through
with the chosen strategies to learn about the career. For example if the first strategy is “I will
research about real estate developers…” you have to attach a document or a list of websites
that you researched. Another strategy could be “Talk to my grandfather about what he
does…” In this instance you will need to write a paragraph describing what you and your
grandpa spoke about.

The second part of the assignment is to write a 3 page, double-spaced essay. In this essay
the tutor must compare your condition now (i.e. after the execution of your plan) with the
condition described in the current condition section of your exploration proposal (i.e. before
you began your exploration). Describe the effectiveness each option/strategy had on
changing your current condition. Explain the impact doing this exploration had on you.

CHART IN ON THE FOLLOWING PAGE

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MAJOR /CAREER EXPLORATION PROPOSAL

CURRENT CONDITION

OPTIONS/STRATEGIES PLAN
(What and why) (Where, when, how)

ESSAY ASSIGNMENT HELP – ANSWERS

2

MAJOR /CAREER EXPLORATION PROPOSAL

CURRENT CONDITION University, NY. Currently I am pursuing a degree in arts but in
I am a student of Syracuse
the future I would like to have my own entrepreneurial venture in Real Estate Development.
The reason why I joined SU was that I wanted to dabble in different streams of study and
find out which interested me the most.
I became interested in the field of real estate because of my grandfather. He was a well
known Real Estate Developer in the Midwest. All my childhood I have heard his stories of
how he would acquire land and sell it at the best of prices, his use of tact and strategy to
push his profits, his negotiation and convincing skills – every thing left an indelible
impression on me. Today I want to enter this field but at the same time I am not sure
whether I fit the bill to enter this area and whether it is something else that I am meant for.

OPTIONS/STRATEGIES PLAN
(What and why) (Where, when, how)

What – Read about the real estate sector and the In the beginning this will help
intricacies in its functioning. me get an overview of the
Why – To have an in-depth knowledge of the sector sector. I can get this
information from online
resources, books, magazines
and current reports on the
sector.

What – Research about the competencies required to do This can be done by appearing
well in the sector for aptitude tests, and talking to
Why – To know what is required to make it big in the career counselors and reading
sector. To check for personality and ability fit. up on related websites.

What – Talk to Real estate developers and their Make a list of stalwarts in the
experiences in the industry industry along with those who
Why – To take learning from their experiences and have just started and are doing
failures well currently. Then I shall try
to read up their interviews or
meet them personally so that I
can get their opinion about the
industry.

What – Talk to my grandfather about he started his My grandfather will help me
venture and his experience get insights into the nitty-gritty
Why – to get insight as to how to set up my own venture of the industry along with the
foundation required for setting
up my own venture in the
sector if I choose to go ahead
with it.

What – From multitudinous options in Real Estate From amongst the various

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Development select a specialization options in the real estate sector,
Why – So that efforts can be channelized in a given it will make sense if I select a
direction. sector which is most relevant to
me once I decide for certain to
enter the industry.

What – Do an short internship in a Real Estate Once the sector of
Development firm specialization is decided I shall
Why – To understand how is the prevalent work culture of do an internship with a firm
the sector specializing or doing well in
that field.

Conducting the exploration-
STRATEGY 1: “Read about the real estate sector and the intricacies in its functioning.”

For this I started reading magazines that provided information regarding the prevailing condition
of the sector. Magazines like “O at Home”
Magazines and Journals

Corporate Real Estate Executive, NACORE International, 440 Columbia Dr., Suite 100, West
Palm Beach, FL 33409, (407) 683-8111 .
Journal of Property Management, Institute of Real Estate Management, (312) 329-6000 .
Contains a help-wanted section but you must be a member to subscribe.
Journal of Real Estate Research, American Real Estate Society, Department of Finance, Box
8233, University of North Dakota, Grand Forks, ND 58202.
Mortgage Banking, Mortgage Bankers Association of America, 1125 15th St., NW, Washington
DC 20005. (202) 861-6555 . $40/year. Covers the mortgage market.
Real Estate Economics. An academic journal published by the AUREA.
Real Estate Finance Today, Mortgage Bankers Association of America, 1125 15th St., NW,
Washington DC 20005. (202) 861-6555 . Focuses on mortgage banking, the mortgage-backed
securities market and loan services.
Real Estate Issues, American Society of Real Estate Counselors, Naitonal Association of Realtors,
(312) 329-8257 . $27. es on major changes in real estate markets (e.g. role of REITS) three times
a year. Very good background reading.
Real Estate Today, National Association of Realtors, (312) 329-8449 . This is the leading
magazine read by residential real estate agents and brokers. Full of articles and ads about the
residential real estate business. Cost $25 a year ($3 if you be long to the National Association of
Realtors).

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Books About Real Estate Careers

Your Successful Real Estate Career by Kenneth Edwards. Dave Liniger, Chairman of the Board,
RE/MAX International, Inc writes:
"A hard-hitting and comprehensive guide for anyone looking into real estate as a career. Edwards
takes the subject seriously and really covers the territory -- from getting a license to surviving and
thriving in a tough business. A valuable book on the real estate shelf."

Opportunities in Property Management Careers, VGM. Career Horizons, Lincolnwood, IL. Over
200,000 people will work in property management. Ever think of running a mall or buying land?
Then you should really pick up a copy of this book.
Opportunities in Real Estate, VGM. Career Horizons, Lincolnwood, IL. This book written by
Mariwyn Evans, Executive Editor of the Journal of Property Management covers opportunities
in residential, commercial, industrial and land brokerage, management and leasing, appraisal,
syndication and land development.
Real Estate Career Starter, By Mary Masi. Learning Express 1998. How to launch your career
in real estate.
Real Estate Careers: 25 Growing Opportunities, By Carolyn Janik and Ruth Rejnis. John
Wiley & Sons. You'll find descriptions of a wide variety of opportunities from pro's who've
been there.
Corporate Real Estate Handbook, by R. A. Silverman, Ed., McGraw Hill, 1987.
Dictionary of Real Estate Terms, by Jack Friedman, Jack Harris and J. Bruce Lindeman. Barron's
Real Estate Guides. 1997. This pocket-sized book provides brief, easy-to-understand definitions
of more than 2,000 terms that relate to real estate purchase, sale, taxes, and law. It also features
helpful graphs, tables, and charts, with information updated in this new edition to reflect the
current real estate market.
National Real Estate Investor Directory Issue. Communications Channels Inc., 6255 Barfield
Road, Atlanta, GA 30328. (404) 256-9800 . Good place to locate real estate investors to work for.
Real Estate Finance and Investment, by William Brueggeman and Jeffrey Fisher. A leading
textbook in real estate by some of the leading thinkers in the field.
Real Estate Sourcebook, Reed Publishing, 3004 Glenview Road, Wilmette, IL 60091. (800) 323-
6772 . Good place to locate contacts in the real estate business.

Articles and Background Reading

"Who's Still Walkin' Around?" Fortune, November 27, 1995, p. 172-190. Talks about real estate
developers who survived the cras h of the 1980s. Presents a who's who of the industry (e.g.
Trammell Crow, Paul Reichmann, Donald Trump) and some good insights about strategies for
success.

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The REIT Story, Sponsored by NAREIT. Although Congress created real estate investment trusts
(REITs) in 1960, REITs played a relatively limited role in real estate investment for more than
three decades. Since 1992, however, the REIT marketplace has grown dramatically. Why is this
happening, and what does it mean for investors and the economy?

Read up reviews regarding the various colleges that provide the required qualification to be a part
of the industry at
Reviews at http://www.astudentoftherealestategame.com/?p=1868

 Columbia University Masters of Real Estate Development Program Review
 MIT Center for Real Estate Program Review
 Cornell University Johnson School Dual Degree MBA/MPS in Real Estate Program
Review

http://www.realestatedevelopmentcoach.com/

http://www.usc.edu/schools/sppd/programs/masters/mred/

For more information regarding careers in Real Estate I read up critical inputs available on the
following websites-

http://www.realestatedeveloper.com/
http://www.realestatecareerdevelopers.com.au/candidates.htm
http://www.salary.com/careers/layouthtmls/crel_display_Cat10_Ser133_Par233.html
http://www.careercounselingcenter.org/Real_Estate_Pre_Licensing.html
http://www.agentcampus.com/connecticut-real-estate.cfm
More Internet Resources-

Careers in Real Estate (Highly recommended. From Washington State University)
Real-Jobs
Real Bank (mostly commercial real estate job opportunities)
Center for Real Estate and Urban Economic Studies (good resource at University of Connecticut)
Yahoo Real Estate Page
Real Estate Economics and Finance (course notes from Yale's Will Goetzmann).
InRealty's Guide to Real Estate Careers
American Realty Exchange

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STRATEGY 2: “Research about the competencies required to do well in the sector”

http://fisher.osu.edu/fin/real.htm
Also to my grandfather about abilities required to do well in this sector and how he thinks the
current real estate industry has changed and what could be the possible capabilities required today.
STRATEGY 3: “Talk to Real estate developers and their experiences in the industry”

I collected information on the top 10 real estate developers in the industry and read up on them. I
also tried meeting the leaders in the industry. What also helped was reading up the views given by
these leaders on various aspects of the industry.
STRATEGY 4: “Talk to my grandfather about he started his venture and his experience”
I spoke to my grandfather and asked him as to how he managed to set up his venture and what his
motivation in entering this segment was. His view was that this sector provides one with a lot of
excitement in terms of dynamism and risk taking. Also this sector was not for the faint hearted.
According to him one of the best ways to learn was to first work in a real estate development firm
so that one can learn the tricks of the trade.
STRATEGY 5: “From multitudinous options in Real Estate Development select a specialization”
Once I had decided that I wanted to enter the real estate sector I decided to select an area of
specialization so that I could focus my energies in a better way.
Also this would help me understand the finer basics of each aspect of Real Estate Development so
that when I would come up with my own firm I would be able to handle the adversities in a better
way. There are several options in real estate development like commercial real estate sales man,
property managers, residential brokers, appraisers, advisories etc.
Areas of specialization-
http://www.csz.com/air.html
http://www.realtor.com/
http://www.primenet.com/~amhb
http://www.naiop.org/
http://www.sior.com/
http://www.ctre.com/rex/
http://www.ccim.com/
http://www.appraisalfoundation.org/
http://www.irem.org/

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STRATEGY 6: “Do a short internship in a Real Estate Development firm”

I applied to the different firms in the sector for an internship of short duration so that I could get a
preview as to how the industry functions and what are the important factors that go into making
the firm a success and more such insights. Some of the associations and institutes that exist in the
industry are-
Associations and Institutes
American Real Estate and Urban Economics Association (AUREA). An Association of academics
interested in real estate.

Associated General Contractors of America, 1957 E Street, NW, Washington DC 20006,
(202) 393-2040 .
Construction Managers Association of America, 12355 Sunrise Valley Drive, Reston, VA 22091.
Construction managers are responsible for organizing and managing a construction job. This
association can give you more information on who is in this field and how to break in.
International Association of Corporate Real Estate Executives, NACORE International, 40
Columbia Dr., Suite 100, West Palm Beach, FL 33409, (800) 726-8111 . Invites student members
at a cost of $25. Get to meet executives, receive a placement newsletter and a resume referral
service. Also available are compensation survey, articles, tapes, books and research reports.
Institute of Real Estate Management, 430 N. Michigan Ave., Chicago, IL 60611. (312) 329-6000
National Association of Home Builders, 15th and M Streets, NW, Washington DC 20005. This
professional organization represents property developers and is a good source of information
about the industry. Publishes the Builder.
National Association of Industrial and Office Properties. The National Association of Industrial
and Office Properties (NAIOP) is the trade association for developers, owners and investors in
industrial, office and related commercial real estate. Founded in 1967, NAIOP is comprised of
6,500+ members in 47 North American chapters and offers its members business and networking
opportunities, education programs, research on trends and innovations and strong legislative
representation. They also have an online job bank.
National Association of Real Estate Investment Trusts (NAREIT). Track goings on in one of the
most dynamic sectors of the real estate business.
National Council of Real Estate Investment Fiduciaries (NCREIF). Tap into the real estate
investment community through this organization.

References –
http://fisher.osu.edu/fin/real.htm

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ESSAY:

The comparison between my current condition post the exploration and before the exploration-

The strategies have helped me decide whether I wanted to enter the field of Real Estate

Development and if yes then which specialization should I start with. The internship further gave

me a chance to experience what it would be like to work in this field.

Before the implementation of the exploration I was confused about joining the sector on many

levels. To begin with, I was confused as to whether I was good enough for the sector and did I

possess the requisite skill sets for me to be able to be successful in the given industry. Next was

the fact whether I wanted to work in it or start my own venture in the sector like my grandfather

had. The other related question was whether this would be the right time to be setting up my

venture and if I was not going to start my business now then would be the right time for it and

what kind of resources would be required to set up from scratch. Next thought was that if I should

enter the whole way or should I decide on a specialization and work in a focused manner.

There were all of these questions and more. But after the exploration I have a better grip over my

future in the sector. For starters at least I am much clearer in thought than I was earlier. I am able

to plan for my plan of action in a more focused way.

The strategies helped me to attain clarity and channelize my thoughts and energy in a particular

direction. Each strategy gave me a different point of view –

STRATEGY 1: “Read about the real estate sector and the intricacies in its functioning.”

This strategy helped me know about the finer details present in the sector. Initially I was only

aware of the parts that my grandfather had told me. Although these snippets were necessary I

needed a more sound formation of the base of my knowledge of the industry. Reading up on the

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various aspects told me what was happening currently in the sector, did I need any formal

education or certification, where could I get them, what were the governing bodies for the industry

etc. This information was really crucial for this meant I could select my subjects at SU in a more

guided fashion that were more in line with my career aspirations.

STRATEGY 2: “Research about the competencies required to do well in the sector”

This plan helped me to gauge whether as an individual I had the requisite bent of mind to be able

to sustain myself and be successful in the sector. It was an important step in self realization for if I

had the abilities I could make them stronger and if not I could inculcate the skill sets and improve

myself.

STRATEGY 3: “Talk to Real estate developers and their experiences in the industry”

Speaking to real estate developers helped me realize the crucial milestones and the turning points

that can change the course from a flailing career to a successful one. Their experiences in times of

failure and success were insightful and how they managed to make the most of both these

situations was indeed remarkable and crucial learning points. They also told me what works and

what does not work in the industry and how has the sector evolved from what it used to be in the

earlier times. They also gave me their views as to whether it was the right time to be entering the

sector and what kind of qualification I would need to be accepted in the sector and also the norms

that exist in the industry.

STRATEGY 4: “Talk to my grandfather about he started his venture and his experience”

When I spoke to my grandfather he told me about the way he came up with his own firma nd how

he fought all odds to gain his foothold in the sector. He told me about the threats and barriers that

come his way when his firm was growing. I could ask him more detailed elements of business like

how he managed his contacts and how he got them, where did he gather his monetary sources and

his secret mantra for success in this specific sector. He was also able to tell me as to why he went

into the sector and whether I should be doing so in the current times.

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STRATEGY 5: “From multitudinous options in Real Estate Development, select a

specialization”

After having decided about entering the real estate development sector, the next thing to decide

was the specialization I would choose for I could attain complete stronghold on the sector only

when I understood each and every part of it. This way my efforts could be better utilized and

would result in more efficient results.

STRATEGY 6: “Do a short internship in a Real Estate Development firm”

This was the most interesting part of the exploration and fun too. During my internship I had

firsthand experience in handling live projects like going for negotiations, sales etc. I learnt the

finer nuances of the art of dealing in real estate. I got to see for myself what the consumer was

looking for, what were his expectations and how the companies gauged this to provide the

superior service to them and create a differentiation in terms of service provided.

This exploration proved to be a life changing experience for it gave me a sense of direction and

the confidence that I could pursue my dreams. The exploration also showed me the way as to how

could I do so with the help from my grandfather and the knowledge bases collected so far. Once

this was decided I could now concentrate more on my career and focus all efforts in excelling at it

than going around about the point without direction.

It also improved my planning skills and my strategizing skills. Now I can approach a problem

with a well chalked out strategy so as to get better results from the same amount of resources

invested. Most important impact was that I learnt how important it was to have people’s skills for

in any industry superior people’s skills could be the most crucial differentiator of success.

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